Wealth Management

Wealth Management Articles

IRS Retirement Plan Contribution Limits

November 21st, 2018

To make it possible for voluntary retirement savings to keep up with inflation, the various numerical limits embedded within qualified retirement plans are indexed for inflation.


The federal estate tax exemption doubled. Now what?

October 23rd, 2018

Put your beneficiaries first. The traditional “hot button” that has motivated people to see their lawyers about estate planning is taxation. Death taxes—inheritance taxes, estate taxes, federal taxes, state taxes—have taken a notorious toll on unplanned estates over the years. With sound planning, that burden can be lightened or even eliminated. In many cases, the tax savings easily cover the cost of the attorney’s fees for creating the estate plan.


A New Kind of Long-term-Care Insurance

July 25th, 2018

More than 400,000 long-term-care insurance policies were sold in 1992, according to figures published by The Wall Street Journal. These are the policies that help seniors cover the costs of nursing home stays at the end of life. At least 400,000 additional policies were purchased each year in the subsequent ten years, peaking at about 750,000 in 2002. Then sales collapsed, and never again reached the 400,000 level. Last year, reportedly only 66,000 such policies were sold. The need for long-term-care insurance has never been greater. What happened to the market?


Planning for Single Seniors

May 15th, 2018

More and more seniors are finding themselves alone and without nearby relatives to help them with financial management. Persons in this situation will need to find an alternative—friends or professionals who can fulfill the roles that might otherwise be handled by family members.


Estate Plan Essentials

April 20th, 2018


IRA Assessment

February 21st, 2018


Bunching Charitable Gifts

January 21st, 2018

With the dramatic increase in the standard deduction in 2018, to $24,000 for married couples, many charities are worried that the tax incentive for donations will disappear, leading to lower gifts.


Retirement Planning After Tax Reform

January 21st, 2018

Several tax reform ideas affecting retirement planning were bandied about as the recent legislation was being prepared, including limits on deductible 401(k) contributions, elimination of “stretch IRAs,” and requiring minimum distributions from Roth IRAs, similar to the treatment of traditional IRAs. In the end, only one significant change made it into the final legislation, together with a few minor ones.


A Suboptimal IRA Beneficiary

September 11th, 2017

Charles Sukenik executed his will on November 4, 2004. His estate was to be divided between his surviving spouse, Vivian, and the couple’s private foundation. His revocable trust was restated at the same time, giving Vivian certain real property and the balance to the foundation. Roughly five years later, in 2009, Charles designated Vivian as the beneficiary of his IRA, worth some $3.2 million. That hardly seems like a controversial move—but it turned out to be.


Where’s Dad’s Password List?

June 19th, 2017

One important new aspect of estate planning concerns “digital assets,” a form of property that only recently has come into existence. Simply stated, digital assets are electronic ones and zeros; that is, information inscribed on a tangible medium or stored in an electronic or other medium and which is retrievable in perceivable form.